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☆ Japan's Nikkei blows past 34,000 mark for the first time in over 30 years; CSI 300 near 5-year lows
▼ + stars: | 2024-01-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Tokyo Skytree and Mount Fuji are seen from the I-link Town observatory in Ichikawa city, Chiba prefecture, east of Tokyo on July 2, 2023. Philip Fong | Afp | Getty ImagesAsia-Pacific markets mostly fell Wednesday, with China's CSI 300 closing at near 5-year lows, though Japan defied the trend to extend its 33-year high. Japan's Nikkei 225 surged 2.01% to cross the 34,000 mark for the first time since March 1990, closing at 34,441.72. The broader based Topix also gained, climbing 1.3% to end at 2,444.48 and also hitting levels not seen in more than 30 years. Hong Kong's Hang Seng index dropped 0.49%, while the mainland China's CSI 300 lost 0.47% to finish at 3,277.13, hitting its lowest level since Jan. 31, 2019.

Persons: Philip Fong, Topix, Kospi Organizations: Mount, Afp, Getty, CSI, Nikkei, — Locations: Tokyo, Mount Fuji, Ichikawa city, Chiba prefecture, Asia, Pacific, Japan

☆ You're not imagining it — it feels damn near impossible to get into top colleges right now
▼ + stars: | 2024-01-10 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +10 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementEven students who have gone megaviral for acceptance videos showing they got into multiple Ivy League schools called social media a major stressor. Schools are rethinking their admissions processes amid a glut of applicantsAn exponential increase in applications has benefited schools financially and reputationally. "A lot of these schools are making so much money from these application fees, which are $80, $90," Rim said. AdvertisementAnd as the game gets more and more competitive year after year, students know they must rise to untold challenges.

Persons: —, Christopher Rim, Rim, It's, Steve Gardner, Gardner, Grant Tucker, Grant Tucker Gardner, Olivia Zhang, Zhang, Kyungyong Lim, Tucker, Tucker's, Oliva Zhang, they've, Lim, who's, it's, " Tucker Organizations: Service, Command, New York City, Hamptons, Rim, Business, Ivy League, New York University, Northeastern, Babson, NYU, MIT, Yale, Facebook, Harvard, Duke, Cancer, Olympic, . News Locations: Asia, Christopher, New, yesteryear, Georgetown, Harvard merch, Jacksonville , Florida

☆ Japan's Nikkei hits 33-year high as Asia markets rebound
▼ + stars: | 2024-01-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Tokyo Tower and Christmas street light up from Roppongi. Asia-Pacific markets mostly rose Tuesday, rebounding from a sell-off in the previous session, with the Nikkei 225 hitting a 33-year high on the back of gains in tech stocks. Investors also assessed December inflation numbers for Japan's capital city of Tokyo, which are a leading indicator for nationwide inflation. Core inflation — which strips out prices of fresh food — remained unchanged at 2.1%, and came in line with expectations. Australia's retail sales for November 2023 also rose more than expected, gaining 2% month-on-month and beating economists expectations of 1.2% in a Reuters poll.

Organizations: Roppongi ., Nikkei Locations: Tokyo, Roppongi, Roppongi . Asia, Pacific

Hong Kong Kanchisa Thitisukthanapong | Moment | Getty ImagesHong Kong market led losses in Asia-Pacific on Monday, followed by China stocks which dropped after shadow banking conglomerate Zhongzhi Enterprise Group filed for bankruptcy liquidation late Friday. The Hang Seng index plunged over 2% in its final hour as healthcare stocks fell, while mainland China's CSI 300 dropped 1.29% to close at 3,472.19. In Australia, the S&P/ASX 200 fell 0.50% to close at 7,451.50, while South Korea's Kospi lost 0.4%, ending at 2,567.82. The small-cap Kosdaq was up 0.11%, finishing at 879.34 and hitting its highest level since Sept. 19. Japan's markets are closed for a public holiday, and will resume trading on Tuesday.

Persons: Kospi Organizations: Hong, Zhongzhi Enterprise, CSI Locations: Hong Kong, Asia, Pacific, China, Australia, South

☆ North Korea fires 200 artillery shells near Yeonpyeong Island; South reportedly orders evacuation
▼ + stars: | 2024-01-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

A shelter for protecting residents from potential North Korean attacks stands on Yeonpyeong Island, South Korea, on Friday, June 26, 2020. South Korea has reportedly ordered civilians on the border island of Yeonpyeong to move to shelters after North Korea fired 200 artillery shells into the sea near the island, local news media said on Friday. Yeonpyeong Island is close to what is known as the "Northern Limit Line," the de facto maritime border that separates the two Koreas. In a major escalation of tensions in November 2010, the island was bombarded by North Korean artillery, killing two South Korean marines and two civilians. North Korea and South Korea are formally still at war, as the Korean War in 1953 ended with an armistice and not a formal peace treaty.

Persons: Ban Organizations: Yonhap News, North Korean, Korea's, Chiefs, Staff, NBC News, Chosun Ilbo, Marine Corps, NLL, Reuters, North, South, United Locations: South Korea, Yeonpyeong, Korea, Korean, , Jangsan, Baengnyeong, Sansan, United Nations, North Korea

☆ Want to avoid crowds while traveling? Here's the 'not hot' list for 2024
▼ + stars: | 2023-12-28 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +5 min

Adventure travel company Intrepid Travel's new "Not Hot" list is out — spotlighting overlooked travel spots around the world. The 2024 list calls attention to two destinations in Asia, two in Europe and one in Central America. Source: Intrepid TravelUnlike Italy's tourist-saturated Positano, travelers visiting Corsica can "enjoy a more authentic, tranquil, and immersive experience ... without the overwhelming crowds," according to a press release by Intrepid Travel. Intrepid Travel recommends Panama for those who wish to "immerse themselves in local traditions, folklore, and contemporary arts ... that differs from the more European-centric cultural landscape," the press release stated. Source: Intrepid Travel

Persons: Matt Berna, Nick Lim, Lim, Gonzalo Azumendi, Emberá, David C Tomlinson Organizations: Intrepid, Americas, Intrepid Travel, CNBC Travel, UNESCO, Heritage, Euromonitor International, Japan National Tourism Organization, Korea Tourism Organization, The Travel Corporation, CNBC, Trip.com, La Amistad, Bank, Getty Locations: Asia, Europe, Central America, Corsica Corsica, France, Corsica, Seoul Tokyo, Singapore, Seoul, Korea, Intrepid Travel Tokyo, Tokyo, Panama Panama, Central American, Costa Rica, Colombia, Panama, Panama Viejo, Casco, Darien, La, Guna, Corfu Greece, Santorini, Mykonos, Kefalonia, Corfu, Greece, Split, Dubrovnik, Croatia, Borneo Borneo, Southeast Asia, Malaysia, Brunei, Indonesia, Kalimantan, Indonesian, Sarawak, Sabah, Borneo, Malaysian, Indonesian's Kalimantan

☆ India wants to host the Olympic Games in 2036. Is the country ready?
▼ + stars: | 2023-12-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Labourers work beside the Olympic signage at the entrance of a venue ahead of the upcoming 141st International Olympic Committee (IOC) session in Mumbai on OCtober 11, 2023. In October, Prime Minister Narendra Modi announced that India plans to host the 2036 Games, reportedly saying it's the country's "age-old dream." Indonesia, Mexico, Turkey and Poland have also expressed their interest to host the Games in 2036. Reliance Industries, the country's largest private sector company, entered into a partnership with the Indian Olympic Association (IOA) last year. In 2011, after the games concluded, the chairman of the of the Commonwealth Games organizing committee, Suresh Kalmadi, was arrested for corruption and financial malpractice.

Persons: Indranil MUKHERJEE, INDRANIL MUKHERJEE, Indranil Mukherjee, Narendra Modi, Nita Mukesh Ambani, CNBC's Tanvir Gill, Ambani, Thomas Bach, Suresh Kalmadi, David Carter, Carter Organizations: 141st International Olympic Committee, AFP, Getty, Afp, India, Business, Reliance Foundation, Reliance Industries, Indian Olympic Association, Olympic Games, CNBC TV18, Olympic, Commonwealth Games, Guardian, BBC, Cricket, University of Southern, CNBC Locations: Mumbai, India, Indonesia, Mexico, Turkey, Poland, Delhi, University of Southern California

☆ Toyota shares slide 4% after vehicle recall, Daihatsu safety issues
▼ + stars: | 2023-12-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Japanese automaker Toyota led losses on the Japan's benchmark Nikkei 225 index Thursday, closing lower by 4%. The sharp fall came after Toyota announced a recall of about a million vehicles on Thursday. The safety recall involved certain 2020-2022 Toyota and Lexus models in the United States. The sell-off also comes after Toyota subsidiary Daihatsu halted shipments of all its vehicles on Wednesday, after an investigation found safety issues with its cars, including cases where airbag control units used in airbag tests for some models were different from the ones sold to the public. A independent panel had been probing Daihatsu after it said in April it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.

Organizations: Toyota, Lexus, Daihatsu Locations: United States

☆ Asia markets set to rebound from Tuesday's broad sell-off
▼ + stars: | 2023-12-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Sydney Harbour taking in the Harbour Bridge, Opera House and ferries at sunrise during the COVID-19 pandemic on April 20, 2020 in Sydney, Australia. Asia-Pacific markets rebounded across the region, following a broad sell-off on Monday. Wednesday will see Australia release its third-quarter GDP numbers, while investors will also digest the Reuters Tankan survey for Japan in December, which showed improving business sentiment among large Japanese manufacturers. The Tankan survey, done by the Bank of Japan quarterly, measures economic conditions in Japan and the survey results are considered a key economic indicator. The Reuters monthly poll is considered to be a leading indicator of the BOJ's official survey.

Organizations: Sydney Harbour, Opera House, Reuters, Bank of Japan Locations: Sydney, Australia, Asia, Pacific, Japan

☆ Blackpink renews group contracts with agency, YG shares spike 29%
▼ + stars: | 2023-12-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

(Photo by Victoria Jones - Pool/Getty Images)Shares of K-pop agency YG Entertainment spiked as much as 29% after the company announced that it has renewed exclusive group contracts with all four members of girl group Blackpink. The stock closed at 48,000 South Korean won ($36.58) per share on Tuesday, near its 2023 low of 47,000 won. But on Wednesday, it surged at the open and hit an intraday high of 61,900 South Korean won per share. This could bring an end to the long running contract saga between the popular K-pop group and the agency. Shares of YG previously plunged each time South Korean media reported that members of the group will not renew with the label.

Persons: Lisa, Lalisa, Rose, Roseanne Park, Jisoo Kim, Jennie Kim, King Charles III, Yoon Suk Yeol, Kim Keon Hee, Victoria Jones Organizations: COP26, YG Entertainment, South Korean, YG, Munhwa Ilbo Locations: ENGLAND, British, Glasgow, London, England, South Korea, South Korean

☆ A suspected Bay Area Christmas tree thief was filmed casually pinching a new tree from a couple's SUV and loading it onto their own car
▼ + stars: | 2023-12-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

A Bay Area couple who tied their Christmas tree to the roof of their car had it stolen on Friday. Security footage shows a person casually cutting the ropes and loading the tree into their own car. The couple was eventually given another Christmas tree by a local business, KGO-TV reported. The San Mateo Police Department told KGO-TV that the Christmas tree case was "unique" and that the theft suspect hadn't been identified yet. AdvertisementPolice added that a local Christmas tree lot gave Jesus and his wife a new tree.

Persons: —, Jesus, Dion Lim, Scrooge isn't, Lim, hadn't Organizations: Area, KGO, Service, ABC, NBC, NBC Bay Area, San Mateo Police Department, Police Locations: San Mateo, NBC Bay

☆ Asia markets poised to fall ahead of key economic data from across the region
▼ + stars: | 2023-12-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

(Photo by Ed JONES / AFP) (Photo by ED JONES/AFP via Getty Images)Most Asia-Pacific markets were set to fall ahead of a slew of economic data from across the region. South Korea's overall inflation rate in November fell to 3.3%, compared with 3.7% expected by a Reuters poll. The inflation rate for Japan's capital, Tokyo, came in at 2.6%, down from the 3.3% in October. Tokyo's inflation figures are widely considered to be a leading indicator of national trends. Caixin and S&P Global will also release China's service purchasing managers' index today, while private PMI readings will also be out from Hong Kong and India.

Persons: Ed JONES, ED JONES Organizations: Getty, P Global Locations: Seoul, AFP, Asia, Pacific, South, Tokyo, Hong Kong, India

☆ Evergrande shares rise over 9% as court hearing to wind up property firm is postponed again
▼ + stars: | 2023-12-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

NANJING, CHINA - AUGUST 18, 2023 - Aerial photo shows a residential area of Evergrande in Nanjing, East China's Jiangsu province, Aug 18, 2023. The firm was originally scheduled to face a Hong Kong court hearing on Monday over a petition from a creditor seeking to wind up the company. Shares of Evergrande Group rose over 9% as the beleaguered Chinese property firm's court hearing over its possible liquidation was postponed to Jan. 29, 2024. Top Shine, an investor in Evergrande unit Fangchebao, had filed a petition in June 2022 seeking to wind up the property firm. The agency, however, reported that creditors were unlikely to accept Evergrande's new proposal, given low recovery prospects and growing concerns about its future.

Persons: Linda Chan Organizations: Getty, Hong, Bloomberg, Reuters, Hong Kong, Evergrande, New Energy Vehicle Group Locations: NANJING, CHINA, Evergrande, Nanjing, East China's Jiangsu, Hong Kong, Hong Kong's

☆ Asia markets poised to start December higher, key data due on Tuesday
▼ + stars: | 2023-12-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets were set to start the final month of this year on a stronger note, with investors awaiting a slew of key economic data Tuesday and inflation readings later this week. Inflation reading for Tokyo will be released Tuesday, which is widely seen as a leading indicator for nationwide trends. South Korea inflation numbers will also be out the same day. The Reserve Bank of Australia will hold its final meeting for the year tomorrow, with economists polled by Reuters expecting the bank to hold rates at 4.35%.

Organizations: Reserve Bank of Australia, Reuters Locations: Asia, Pacific, Tokyo, Korea

☆ Asia markets slide as investors assess private factory activity surveys; U.S. inflation cools further
▼ + stars: | 2023-12-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Neon ads in Dotonbori district, Osaka, Kansai region, Japan Alexander Spatari | Moment | Getty ImagesAsia-Pacific markets started Friday lower even as Wall Street mostly saw gains and ahead of private factory activity surveys from across the region. Most notably, investors will be watching China's Caixin manufacturing purchasing managers' index for November, after official numbers Thursday showed the country's manufacturing sector contracting for a second straight month. PMI readings are also due from Japan, South Korea and India on Friday. Japan's Nikkei 225 was marginally below the flatline, but the Topix bucked the trend and opened 0.21% higher. Futures for Hong Kong's Hang Seng index stood at 17,052, also pointing to a positive open compared with the HSI's close of 17,042.88.

Persons: Japan Alexander Spatari, Kospi Organizations: PMI, Nikkei Locations: Dotonbori district, Osaka, Kansai, Japan, Asia, Pacific, South Korea, India, Australia

☆ Hong Kong set to rebound after hitting a one-month low, Asia markets fall across the board
▼ + stars: | 2023-11-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Edgar Su | ReutersAsia-Pacific markets fell across the board on Thursday ahead of key economic data from the region. South Korea's industrial output numbers surprised the market, registering a 3.5% fall compared to expectations of a 0.5% rise from economists polled by Reuters. Japan's Nikkei 225 slid 0.25% and extended its three-day losing streak, with the Topix also down by 0.14%. South Korea's Kospi also fell 0.29%, while the small-cap Kosdaq was marginally above the flatline. Futures for Hong Kong's Hang Seng index stood at 17,108, pointing to a rebound after the HSI hit a one month low on Monday and closed at 16,993.44.

Persons: Edgar Su, Kospi, HSI Organizations: of, Initiative, Reuters, Nikkei Locations: Beijing, China, Reuters Asia, Pacific, Japan, Australia

☆ Australia walks a tight rope on trade with China as security concerns mount
▼ + stars: | 2023-11-29 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Chinese President Xi Jinping meets with Australian Prime Minister Anthony Albanese at the Great Hall of the People in Beijing, capital of China, Nov. 6, 2023. While trade compulsions have forced the Asia-Pacific nation to reach out to China, security concerns over Beijing's South China Sea claims have prevented a reset in ties. Trade talksPart of Beijing's calculus is rooted in Australia economic dependence on China. According to the Australian government, China is its largest trading partner, accounting for nearly a third of the country's total trade with the world. Australia is already closely watching potential flashpoints in the South China Sea, and in regard to Taiwan," Economist Intelligence Unit analysts said in a note.

Persons: Xi Jinping, Anthony Albanese, Ding Haitao, coronavirus, Darren Lim, Lee McLean, McLean, we've, Albanese, We've Organizations: Australian, of, People, Getty Images, Xinhua, Agency, Xinhua News Agency, Getty, Australian National University, Labor, Australia, U.S ., China Hub . Trade, CNBC, Sky News Australia, Economist Intelligence, U.S Locations: Beijing, China, Xinhua, Australia, Asia, Pacific, Canberra, U.S, South China, Taiwan, The Hague, Philippines

The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023. Asia-Pacific markets were set to open lower as investors assess comments from the U.S. Federal Reserve board members and await Australia's October inflation figures. On Tuesday, Federal Reserve Governor Christopher Waller said he was growing more confident that policy was in a place now to bring inflation back under control. Waller also said the Fed might start lowering rates if inflation continues to ease over the next three to five months. In contrast, Governor Michelle Bowman said more rate hikes will likely be needed as evolving dynamics keep inflation elevated.

Persons: Christopher Waller, Waller, Michelle Bowman, Bowman Organizations: Opera, Vivid, U.S . Federal Reserve, Federal Locations: Sydney, Australia, Asia, Pacific

☆ EU court says public employees may be barred from wearing head scarf
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

The case came to the Court of Justice of the European Union (CJEU) after an employee of the eastern Belgian municipality of Ans was told she could not wear an Islamic head scarf at work. The municipality subsequently changed its terms of employment to require its employees to observe strict neutrality by not wearing overt signs of religious or ideological belief. The hijab, the traditional head scarf worn around the head and shoulders, has been a divisive issue across Europe for years. The CJEU said a policy of strict neutrality that was intended to establish a neutral administrative environment may be regarded as being objectively justified by a legitimate aim. The court said authorities in member states had a margin of discretion in designing the neutrality of public service they intended to promote.

Persons: Lim Huey Teng, Philip Blenkinsop, William Maclean Organizations: REUTERS, Rights, European Union, Justice, Thomson Locations: Kuala Lumpur, Malaysia, Rights BRUSSELS, Europe, Belgian

Hong Kong Spreephoto.de | Moment | Getty ImagesAsia-Pacific markets are set to rebound slightly after the region saw all its major indexes end the day in negative territory on Monday. Earlier on Tuesday, oil prices eased somewhat lower after Qatar said the truce between Israel and Hamas has been extended by a further two days. Japan's markets started the day close to the flatline, with the Nikkei 225 marginally up and the Topix just slightly below the no change mark. South Korea's Kospi was up 0.42%, while the small-cap Kosdaq saw a larger gain of 0.53%. However, Hong Kong's Hang Seng index looks set to extend its losses from Monday, with HSI futures at 17,517 compared to the index's close of 17,525.06.

Persons: Brent, Kospi, Hong Organizations: West Texas, Nikkei Locations: Hong Kong, Asia, Pacific, Qatar, Israel, Australia

☆ The 'Korea discount': Value stock or value trap?
▼ + stars: | 2023-11-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

A cameraman takes video footage of a stock index board showing South Korea's benchmark stock index (L) after a ceremony celebrating the New Year's opening of the South Korea stock market at the Korea Exchange in Seoul on January 2, 2023. Chaebol challengeIn South Korea, most market heavyweights are corporations called "chaebols," large family-owned global conglomerates that are usually controlled by the founder's family. However, IHS Markit highlighted in June last year that in South Korea, the ex-dividend date comes before the companies' dividend announcement dates. With such challenges, should investors be putting their money into South Korea stocks — or should they stay away? "If authorities continue to improve the investment environment further, the chances for the South Korean stock index to be included in the [MSCI World Index] will grow," he said.

Persons: Jung Yeon, JUNG YEON, Vikas Pershad, Jiang Zhang, Jeremy Tan, Zhang, Hebe Chen, Chen, Ryota Abe Organizations: South, Korea Exchange, Getty, Management, North, CNBC, Samsung Electronics, LG, SK, Hyundai, Samsung, Tiger Fund Management, IHS, South Korea's Financial Services Commission, IG International, Sumitomo Mitsui Banking Locations: South Korea, Korea, Seoul, North Korea, Korea's, Southeast Asia

Asia-Pacific markets are set for a positive start to the week as investors await key economic data out from major economies around the region, including China and Japan. China will release its official factory activity figures for November on Thursday, while the Caixin survey for the same metric will be out on Friday. Australia and Japan will release their October inflation figures on Wednesday and Thursday respectively, which will give clues to future moves by their respective central banks. India's gross domestic product numbers for the three months ended September will also be released late Thursday.

Locations: Asia, Pacific, China, Japan, Australia

☆ UAE reportedly planned to use COP28 climate summit to lobby for oil and gas deals
▼ + stars: | 2023-11-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

The president of the upcoming COP28 climate change Sultan Ahmed al-Jaber speaks during the Abu Dhabi International Petroleum Exhibition at ADNEC Exhibition Center October 2, 2023. Jaber told an Abu Dhabi oil conference on October 2, 2023, that the fossil fuel industry would play an essential role in addressing the climate crisis. Al-Jaber was the founding CEO of Abu Dhabi state-owned renewable energy firm Masdar. CCR, which has received funding from the likes of Greenpeace and Rockefeller Philanthropy Advisors, said it was able to verify the accuracy of the leaked documents via an unnamed whistleblower. The United Nations Framework Convention on Climate Change did not immediately respond to a CNBC request for comment on the leaked documents.

Persons: Ahmed al, Jaber, Ryan LIM, RYAN LIM, Al, ADNOC, Masdar Organizations: Abu, Abu Dhabi International Petroleum, Exhibition, Getty, United Arab, Abu Dhabi National Oil Company, Al, Centre, Climate Reporting, BBC, CCR, Greenpeace, Rockefeller Philanthropy Advisors, CNBC, United Nations Locations: Abu Dhabi, AFP, United Arab Emirates, Masdar, China, Egypt, United, Dubai

Commercial and residential buildings at dusk in the Minato district of Tokyo, Japan, on Saturday, Oct. 1, 2022. Asia-Pacific markets are largely set for a stronger open as investors assess key economic data out from Japan on Friday. The world's third largest economy saw its core inflation rate rise to 2.9% in October, higher than the 2.8% seen in September. The country will also expect flash estimates for its November factory activity from the au Jibun bank.

Locations: Minato, Tokyo, Japan, Asia, Pacific

☆ Asia markets poised to fall even as Wall Street goes into Thanksgiving with a rally
▼ + stars: | 2023-11-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Nicky Loh | Bloomberg | Getty ImagesAsia-Pacific markets are set for a lower open after Wall Street went into the Thanksgiving holiday with a broad based rally. The tech-heavy Nasdaq also saw greater participation, with 62.9% of the stocks in the index rising. The country saw its business activity contract at a faster pace in November, according to flash estimates from Judo Bank. South Korea's Kospi gained 0.18%, on pace for a fourth straight day of gains, while the small-cap Kosdaq also advanced 0.16%. Futures for Hong Kong's Hang Seng index stood at 17,692, pointing to a weaker open compared with the HSI's close of 17,734.6.

Persons: Nicky Loh, Australia's, Korea's Kospi Organizations: Bloomberg, Getty, Wall, New York Stock Exchange, Nasdaq, Judo Bank Locations: Bay, Asia, Pacific, October's

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